• Market sounding with banks,
• Preparation of the Head of Terms, Termsheet and other relevant documents,
• Negotiating commercial terms with banks,
• Support in selecting and managing other advisors.

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Finance raising (equity, debt)

• Project sourcing,
• Preparation of process letters and NBO,
• SPA negotiations and other key documents,
• Support in selecting and managing other advisors.

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M&A advisory (buy-side/sell-side)

• Preparation of dynamic financial forecasts for the finance raising, transaction or controlling needs
• Creating dashboards that facilitate navigation and control of results,
• Reviews of models prepared by other advisers.

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Financial modeling
and model reviews

• Market sounding with potential energy suppliers under the PPA;
• Calculation of the volumes to be delivered under the RES auction and selection of the price that meets the customer's criteria.

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Support in the
preparation of auction bids/PPA

• Support in building energy strategies;
• Financial advisory in the PPA process: from preparation of the process, through searching for a contractor, negotiating commercial terms, to concluding a contract.

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PPA and energy consulting

• We provide additional services depending on the client's needs. Please contact us for more information.

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Other services

We help companies from various industries, including:

wind energy
biogas and biomethane
energy storage
and construction
waste management


Historical experience of team members:

+ MW

transaction in RES
successfully completed


billions PLN
transaction value


billions PLN
value of obtained financing


financial models made

Team members:

Adam Kościelniak Managing Partner A-RES
Adam Kościelniak
Managing Partner
Artur Wronkowski Managing Partner A-RES
Artur Wronkowski
Managing Partner
Ruslan Lernatovych Senior Associate A-RES
Ruslan Lernatovych
Senior Associate
Lidia Kowalska Business Development Manager A-RES
Lidia Kowalska
administrative operations manager
Olga Jóźwiak Business Development and Promotion Specialist
Olga Jóźwiak
Development and Promotion Specialist